QUOTE (JoefromTO @ Aug 9 2009, 01:32 PM) Thanks Thomas. In the case where I am refinancing a mortgage, won`t the bank require proof of everything? Also, when it comes to establishing the value on my primary residence which happends to be debt free, how do i do that? Also, how do I prove that my primary residence as well as investment properties belong to me? Would I use a current property tax assessments or do I have to produce the actual deeds?
proof is on title, is it not ?
keep / attach most recent copies of: mortgages, tax assessments, tax filings, rent receipts, appraisals, CC statement ..
the PNW should accurately reflect what your worth .. proving it is another matter. So if you bought a house 10 years ago for $200,000 and you show it as $420,000 then that is OK .. even if no proof is available .. you might have a tax assessment that shows $390,000 .. and you may know that yours is worth a bit more than that .. bank will ask if they need proof .. but attach tax assessment and a note stating "many homes sell for more than that" or "here is a recent MLS report showing similar houses so I think $420,000 is a fair estimate .. s.th. like that as you obviously won`t appraise your house every 12 months!
The more backup docs the better .. you could refer to that in your spreadsheet in a column: See Appendix # 23, 25, and 28 .. and then label your appendices accordingly .. over time the one page doc will be a 4kg binder (or 2 !!)